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The Hard Thing About Hard Things by Ben Horowitz

Famed investor and entrepreneur Ben Horowitz brings us through his personal accounts of the stresses and euphorias experienced while building a successful business

Key Takeaways

There is no recipe to reach your goals. That is what makes your goals difficult

No shortcuts to knowledge

Aim to have different groups of friends as this helps you gain new, broader perspectives

Impossible to do everything so make sure you set and stick to your priorities

Imagine what the best version of you would do in any given situation and act accordingly

When raising money privately, look for a market of one

Need two types of friends – those you call with good news and are genuinely excited for you and those you call when all hell breaks loose

“If you’re going to eat shit, don’t nibble”

Set artificial deadlines to push yourself and your team and keep people focused

Conventional wisdom has nothing to do with the truth

Consistently ask, “What am I not doing?”

CEOs should not play the odds – simply do whatever it takes

Must be able to make the best decision even if all your options are terrible

As terrible as the struggle seems in the moment, that’s where greatness comes from

As a CEO, don’t be overly optimistic, be real and trust others

Nobody takes the bad news worse than the CEO

Right way to lay off people – focus on the future, don’t delay, be clear about why they’re being fired, train managers as they should be the one’s firing their people, address the company (more for those staying than leaving), be visible and present (show you care)

If need to fire/demote a friend, understand that you need to take the action which is best for the company (be decisive, admit reality, acknowledge contributions)

You must not fool yourself and you are the easiest to fool

Often there will be no silver bullet – simply need to bunker down and work through the problem